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ASR - Assore Limited - Sub-Division of ordinary shares and Notice of General
Meeting
Assore Limited
(Incorporated in the Republic of South Africa)
(Registration number 1950/037394/06)
Share code: ASR
ISIN: ZAE000017117
("Assore" or the "Company")
SUB-DIVISION OF ORDINARY SHARES AND NOTICE OF GENERAL MEETING
1. Introduction
Shareholders of ordinary shares of Assore ("Assore Shareholders") are advised
that the board of directors of Assore has proposed a sub-division of the
ordinary share capital of Assore ("Assore Shares") on a 5 for 1 basis ("the Sub-
division").
2. The Sub-division
2.1 Rationale
The Assore Share price has increased from R11.00 per share on 7 December 1998,
the date of the last sub-division, to R785.00 per share on 6 August 2010. The
purpose of the Sub-division is to encourage more participation by private
investors in the Assore Shares and increase the liquidity of the Assore Shares
on the securities exchange operated by the JSE Limited (the "JSE").
2.2 Effects of the Sub-division
The Sub-division should have the effect of decreasing the market price, earnings
per share and net asset value per Assore Share on the JSE by a factor of 5. On 6
August 2010, Assore`s closing share price on the JSE was R785.00 per share.
Consequently, had the Sub-division been implemented on such date, Assore`s
closing share price on the JSE subsequent to the Sub-division would have been
approximately R157.00 per share.
The effect of the Sub-division on the ordinary share capital of Assore is as
follows:
Before the After the
Sub-division Sub-division
Par value per Assore Share 2.5 cents 0.5 cent
Number of authorised Assore 40 000 000 200 000 000
Shares
Number of issued Assore Shares 27 921 400 139 607 000
3. Conditions precedent
The implementation of the Sub-division is subject to the approval of the
following resolutions by the requisite majority of votes required at the general
meeting of Assore Shareholders, as detailed in 4 below, and the registration
(where applicable) of such resolutions by the Registrar of Companies:
- the special resolution for the amendment of the Memorandum of Association of
Assore;
- the special resolution for the Sub-division of the authorised and issued
Assore Shares; and
- the ordinary resolution for directors to execute the Sub-division.
4. General meeting
Notice is hereby given of a general meeting of Assore Shareholders to be held at
10:00 on Friday, 10 September 2010, at the registered office of Assore, being
Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg.
5. Salient dates and times 2010
Circular and notice of general meeting Friday, 20 August
posted to Assore Shareholders on
Last day for receipt of forms of proxy Wednesday, 8
for the general meeting by 10:00 on September
General meeting to be held at 10:00 on Friday, 10
September
Special resolutions lodged with the Friday, 10
Registrar of Companies September
Results of the general meeting released Friday, 10
on Securities Exchange News Service September
("SENS") on
Results of the general meeting published Monday, 13
in the press on September
Finalisation announcement Thursday, 16
September
Last day to trade in Assore Shares with a Thursday, 23
par value of 2.5 cents each on September
Shares with a par value of 0.5 cent each Monday, 27
listed September
Shares with a par value of 2.5 cents each Monday, 27
suspended September
Trading in shares with a par value of 0.5 Monday, 27
cent each commences at 09:00 under the September
new ISIN: ZAE000146932 and the same JSE
code ASR on
Record date for the Sub-division Friday, 1 October
Replacement certificates reflecting the Monday, 4 October
Sub-division will be posted to
certificated Assore Shareholders whose
share certificates have been received by
12:00 on Friday, 1 October 2010 on or
about
If share certificates have not been Monday, 4 October
received by 12:00 on Friday 1 October
2010 replacement share certificates will
be posted within five business days of
receipt of the share certificates.
Dematerialised Assore Shareholders will Monday, 4 October
have their accounts at their CSDP or
broker updated on
Shares with a par value of 2.5 cents each Monday, 4 October
terminated at the commencement of trade
on
Notes:
1. The abovementioned dates and times are South African local dates and times,
and are subject to change. Any such material change will be released on SENS and
published in the South African press.
2. If the date of the general meeting is adjourned or postponed, forms of proxy
must be received by no later than 48 hours prior to the time of the adjourned or
postponed general meeting, provided that, for the purposes of calculating the
latest time by which forms of proxy must be received, Saturdays, Sundays and
South African public holidays will be excluded.
3. Share certificates with a par value of 2.5 cents each per share may not be
dematerialised or rematerialised after Friday, 23 September 2010.
Illovo Boulevard
Johannesburg
20 August 2010
Sponsor to Assore
Standard Bank
Legal adviser to Assore
Webber Wentzel
Date: 20/08/2010 12:19:01 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department.
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employees and agents accept no liability for (or in respect of) any direct,
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